Monday, April 16, 2018

February 2007: Class warfare is a bad idea





A post from February 2007:

In a previous post, I indicated that class warfare is a bad idea. See The Stubborn Welfare State By Robert Samuelson:
"Raise taxes on the richest 1 percent, say some. OK. The richest 1 percent pay about a quarter of all federal taxes.

In 2006, that was about $600 billion. To cover the deficit would require about a 40 percent tax increase. Needless to say, neither proposal is politically plausible."
The answer is growth without inflation, which is what we have now.

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